Sciencast Management LP Reduces Stock Position in Callaway Golf (NYSE:ELY)

Sciencast Management LP trimmed its holdings in Callaway Golf (NYSE:ELY) by 24.5% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 27,799 shares of the company’s stock after selling 9,029 shares during the period. Sciencast Management LP’s holdings in Callaway Golf were worth $766,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Parkside Financial Bank & Trust raised its stake in shares of Callaway Golf by 43.9% in the first quarter. Parkside Financial Bank & Trust now owns 1,266 shares of the company’s stock valued at $34,000 after acquiring an additional 386 shares in the last quarter. The PNC Financial Services Group Inc. boosted its holdings in Callaway Golf by 9.2% in the 1st quarter. The PNC Financial Services Group Inc. now owns 5,203 shares of the company’s stock valued at $139,000 after purchasing an additional 439 shares in the last quarter. FineMark National Bank & Trust boosted its holdings in Callaway Golf by 1.2% in the 4th quarter. FineMark National Bank & Trust now owns 42,200 shares of the company’s stock valued at $1,013,000 after purchasing an additional 500 shares in the last quarter. Midwest Wealth Management Inc. lifted its position in shares of Callaway Golf by 0.7% during the 1st quarter. Midwest Wealth Management Inc. now owns 78,721 shares of the company’s stock valued at $2,106,000 after acquiring an additional 542 shares during the period. Finally, Aperio Group LLC lifted its position in shares of Callaway Golf by 1.9% during the 4th quarter. Aperio Group LLC now owns 29,387 shares of the company’s stock valued at $706,000 after acquiring an additional 547 shares during the period.

ELY opened at $35.26 on Friday. Callaway Golf has a fifty-two week low of $14.62 and a fifty-two week high of $37.75. The company has a current ratio of 1.73, a quick ratio of 1.24 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $3.32 billion, a price-to-earnings ratio of 67.81 and a beta of 2.13. The stock’s 50-day simple moving average is $31.77.

Callaway Golf (NYSE:ELY) last posted its earnings results on Sunday, May 9th. The company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.12 by $0.50. Callaway Golf had a net margin of 6.48% and a return on equity of 7.77%. The firm had revenue of $651.60 million during the quarter, compared to analysts’ expectations of $603.11 million. During the same quarter in the prior year, the firm earned $0.32 EPS. Callaway Golf’s quarterly revenue was up 47.3% on a year-over-year basis. Equities analysts anticipate that Callaway Golf will post 0.09 EPS for the current year.

ELY has been the subject of several recent analyst reports. Raymond James lifted their target price on shares of Callaway Golf from $32.00 to $37.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 11th. TheStreet raised shares of Callaway Golf from a “c” rating to a “b-” rating in a research report on Monday, May 10th. B. Riley upped their price target on shares of Callaway Golf from $35.00 to $38.00 and gave the stock a “buy” rating in a research report on Tuesday, May 11th. Zacks Investment Research raised shares of Callaway Golf from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research report on Monday. Finally, Cowen cut shares of Callaway Golf from an “outperform” rating to a “market perform” rating and set a $28.00 price target for the company. in a research report on Tuesday, February 16th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $32.91.

In other news, CFO Brian P. Lynch sold 77,206 shares of the stock in a transaction that occurred on Monday, May 17th. The shares were sold at an average price of $34.50, for a total value of $2,663,607.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Glenn F. Hickey sold 1,746 shares of the stock in a transaction that occurred on Wednesday, May 26th. The shares were sold at an average price of $37.21, for a total transaction of $64,968.66. Following the completion of the transaction, the executive vice president now owns 17,296 shares of the company’s stock, valued at $643,584.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 578,185 shares of company stock valued at $21,300,830. 1.23% of the stock is owned by insiders.

Callaway Golf Profile

Callaway Golf Company, together with its subsidiaries, designs, manufactures, and sells golf clubs and golf balls, apparel, gear, and other products. It operates through two segments, Golf Equipment; and Apparel, Gear and Other. The Golf Equipment segment provides drivers, fairway woods, hybrids, irons, wedges and packaged sets, putters, and pre-owned golf clubs under the Callaway and Odyssey brands, as well as golf balls under the Callaway Golf and Strata brand names.

See Also: What is the Moving Average Convergence Divergence (MACD) oscillator?

Institutional Ownership by Quarter for Callaway Golf (NYSE:ELY)

Receive News & Ratings for Callaway Golf Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Callaway Golf and related companies with MarketBeat.com's FREE daily email newsletter.